31386 paragraphs found
In the case of a new engagement, the group engagement team’s understanding of the group, its components, and their environments may be obtained from: Information provided by group management; Communication with group management; and Where applicable, …
The group engagement team’s understanding may include matters such as the following: The group structure, including both the legal and organisational structure (that is, how the group financial reporting system is organised). Components’ business …
In the case of a continuing engagement, the group engagement team’s ability to obtain sufficient appropriate audit evidence may be affected by significant changes, for example: Changes in the group structure (for example, acquisitions, disposals, …
Section 323B of the Corporations Act 2001 (the Act) requires the auditor of a controlled (component) entity to give the principal (group) auditor any information, explanation or assistance required under section 323A of the …
Expectation to Obtain Sufficient Appropriate Audit Evidence (Ref: Para. 13) …
A group may consist only of components not considered significant components. In these circumstances, the group engagement partner can reasonably expect to obtain sufficient appropriate audit evidence on which to base the group audit opinion if the group …
The group engagement team’s access to information may be restricted by circumstances that cannot be overcome by group management, for example laws relating to confidentiality and data privacy, or denial by the component auditor of access to relevant audit …
Where access to information is restricted by circumstances, the group engagement team may still be able to obtain sufficient appropriate audit evidence; however, this is less likely as the significance of the component increases. For example, the group …
The group engagement team will not be able to obtain sufficient appropriate audit evidence if group management restricts the access of the group engagement team or a component auditor to the information of a significant …